Pune, Oct. 16, 2024 (GLOBE NEWSWIRE) -- According to SNS Insider, The Artificial Intelligence in Ultrasound Imaging Market size was estimated at USD 889.1 million in 2023 and is expected to reach USD 2047.7 million by 2032, growing at a CAGR of 8.7% over the global forecast period from 2024 to 2032.
The increasing integration of advanced technologies in ultrasound imaging, coupled with the demand for better accuracy in diagnostics, is leading to this growth in the market. The rapidly rising incidence of chronic diseases along with the mounting demand for effective diagnostic solutions helps accelerate market growth.
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Market Overview
The Artificial Intelligence in Ultrasound Imaging Market has been experiencing tremendous growth as the demand for efficient and accurate diagnostic imaging solutions increases. The increasing adoption of AI-related technologies by the healthcare sector and their need for developing quick and precise diagnostics is rewriting the ultrasound imaging landscape. AI-based solutions enable healthcare professionals to process vast amounts of image data at a much quicker pace to enhance patient care. The rising incidence of chronic diseases and the need to detect them in the early stage or even begin to take treatment also drive the demand for AI-based ultrasound devices. Innovations on the supply side include advancements in machine learning, natural language processing, and computer vision. Thus, the marketplace is shifting towards AI-integrated ultrasound systems that can distinctly raise diagnostic accuracy and streamline healthcare workflows.
Key Artificial Intelligence in Ultrasound Imaging Market Players:
- IBM
- Nvidia Corporation
- Intel Corporation
- Microsoft
- Samsung
- Butterfly Network
- GE Company
- Siemens Healthcare
- General Vision
- EchoNous, Inc.
- CloudMedx Inc.
- Agfa-Gevaert Group
- Imagia Cybernetics Inc.
- Enlitic, Inc.
- Micron Technology, Inc. and others.
Artificial Intelligence in Ultrasound Imaging Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 889.1 Million |
| Market Size by 2032 | US$ 2047.7 Million |
| CAGR | CAGR of 8.7% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]), Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
Segment Analysis
By Technology
The technology segments of the AI ultrasound imaging market include machine learning, computer vision, natural language processing, and others. This pie chart further breaks down imaging analytics into three broad areas: machine learning, computer vision, and deep learning. Market leadership is held by machine learning, which maintains 36.2% in 2023, because the quantities of image data they can analyze enable images to be diagnosed more accurately over time, especially for predictive analytics and pattern recognition in imaging. The siloed structure of knowledge created by such data-driven insights has spread beyond medical decision-making and has been appreciated by radiologists and healthcare professionals around the world.
By Application
Radiology held the largest share of 27.6 in 2023, primarily because of its high number of diagnostic procedures, including any kind of cancer and analysis of organs. AI-based ultrasound scanning increases accuracy and reduces the time for interpretation. For radiologists, it is priceless. However, the fastest-growing area is cardiovascular diagnostics, which arises due to the increasing incidence of cardiovascular diseases coupled with a strong requirement for proper early diagnosis. AI-enhanced ultrasound systems give clear images of the heart and blood vessels, thereby improving care in cardiovascular patients.
By End User:
The ultrasound imaging market end-user segmentation encompasses hospitals, patients, healthcare payers, and others. In 2023, the market was dominated by hospitals with a share of 35.0% since they are the leading providers of advanced diagnostic imaging services. These hospital imaging departments help streamline workflow and enhance diagnostic capability, and it is the most desirable option among healthcare providers.
Artificial Intelligence in Ultrasound Imaging Market Key Segmentation:
By Technology
- Machine Learning
- Computer vision
- Natural Language Processing
- Others
By Application
- Radiology
- Obstetrics
- Gynecology
- Cardiovascular
- Others
By End User
- Hospitals
- Patients
- Healthcare Payers
- Others
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Regional Analysis
In 2023, North America was found to be the largest shareholder in the Artificial Intelligence in Ultrasound Imaging Market with approximately 40% share of the total market. The growth in this region is primarily driven by the countries that have the leading technological firms and healthcare organizations that are focused on AI-based integration in ultrasound machines. Organizations such as IBM and Medtronic are leaders in AI-driven ultrasound solution development, which enhances diagnosis. North America's market dominance is also bolstered by robust healthcare infrastructure and high adoption rates of technologies and their advanced forms.
The Asia Pacific market is growing at the highest CAGR during the forecast period, 2024-2032. Incremental healthcare investments and the need for next-generation imaging products are the major growth impetus in this regard. Substantial R&D and partnerships between key players like companies associated with Nvidia and Siemens Healthcare exist in countries such as China and India, thus encouraging innovations for new ultrasound imaging solutions. Growing healthcare spending and rising chronic diseases are projected to create opportunities for the market to grow.
Recent Developments
- Butterfly Network, Inc. launched the Butterfly iQ+ ultrasound device in June 2024. Equipped with advanced AI algorithms, the device will help in enhanced diagnosis capabilities.
- GE HealthCare launched its AI-enabled ultrasound product, the Versana Balance, in August 2024 to provide more precise diagnostics for OB-GYN-related applications.
- Nvidia Corporation announced on July 2024 that it has partnered with Siemens Healthcare to produce AI-based ultrasound imaging software to evaluate data in real-time.
Key Take-A-Ways
- The Artificial Intelligence in Ultrasound Imaging Market is expected to be growing at an incredibly high rate in the coming years due to technological advancements and the rapidly increasing requirement for accurate diagnostics.
- Machine learning is the dominant technology segment, followed by computer vision being the fastest growing.
- North America is the leader in the market today while Asia Pacific has the most growth potential.
- The latest product releases by leading vendors underscore how AI-powered ultrasound products continue to evolve.
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Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
- Incidence and Prevalence (2023)
- Prescription Trends, (2023), by Region
- Device Volume, by Region (2020-2032)
- Healthcare Spending, by Region, (Government, Commercial, Private, Out-of-Pocket), 2023
6. Competitive Landscape
7. Artificial Intelligence in Ultrasound Imaging Market Segmentation, by Technology
8. Artificial Intelligence in Ultrasound Imaging Market Segmentation, by Application
9. Artificial Intelligence in Ultrasound Imaging Market Segmentation, by End User
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
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